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e. In finance, default is failure to meet the legal obligations (or conditions) of a loan, [1] for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.
Default (computer science) A default, in computer science, refers to the preexisting value of a user-configurable setting that is assigned to a software application, computer program or device. Such settings are also called presets or factory presets, especially for electronic devices. Default values are standards values that are universal to ...
Default (band) Default is a Canadian rock band formed in Vancouver in 1999. Since forming, the band has released four albums, and has sold more than a million records. The majority of their fan base is in Canada, but they had brief mainstream success in the United States with the release of their hit single "Wasting My Time".
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t. e. A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced.
Default (law), the failure to do something required by law. Default (finance), failure to satisfy the terms of a loan obligation or failure to pay back a loan. Default judgment, a binding judgment in favor of either party based on some failure to take action by the other party. Default rule, a rule of law that can be overridden by a contract ...
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The list of sovereign debt crises involves the inability of independent countries to meet its liabilities as they become due. These include: A sovereign default, where a government suspends debt repayments. A debt restructuring plan, where the government agrees with other countries, or unilaterally reduces its debt repayments.